Today, Invenergy Wind LLC (“Invenergy”)announced the successful closing of construction financing for its Orangeville Wind Farm (“Orangeville Wind”), which currently is in construction in Wyoming County, New York.
Rabobank acted as the Mandated Lead Arranger, Administrative Agent and Collateral Agent, and Union Bank S.A., acted as the Syndication Agent and Joint Lead Arranger for the transaction, which consisted of a construction loan and letter of credit.
“Invenergy is pleased to have completed this financing for our second wind project in New York State,” said Jim Murphy, Chief Financial Officer and Chief Operating Officer of Invenergy. “We appreciate the confidence shown by our financial partners in the quality of our projects.”
Upon completion later this year, the 94 MW project will generate enough clean, renewable energy to power more than 38,000 homes. The electricity produced by
Orangeville Wind will be sold into the wholesale markets managed by the New York Independent System Operator (“NYISO”). Renewable Energy Credits will be sold to the New York State Energy Research and Development Authority (“NYSERDA”).
The project site is located in Orangeville, New York, approximately forty miles southeast of Buffalo. The project is being constructed by two New York State contractors, Tetra Tech Construction and O’Connell Electric Company, as well as Pennsylvania-based Henkels & McCoy. Upon completion, the facility will feature 58 GE 1.6-100 MW capacity wind turbines.
Orangeville Wind is located nearby Invenergy’s 112.5 MW Sheldon Wind Farm, which began full commercial operations in 2009.
Invenergy and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation facilities in North America and Europe. North America’s largest independent wind power generation company, Invenergy is committed to clean power alternatives and continued innovation in electricity generation. The company’s home office is located in Chicago and it has regional development offices throughout the United States and in Canada and Europe.
Invenergy has developed more than 7,100 MW of clean energy projects that are in operation, in construction, or under contract, including 49 wind, 3 solar, and 6 natural gas power facilities. For more information, please visit www.invenergyllc.com.
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